GBPUSD – Everyone is Calling a Bottom… I’m Still Looking LowerGBP/USDOANDA:GBPUSDEdgeTradingJourneyRight now, I’m looking at GBPUSD as a clean continuation setup rather than a reversal. The higher timeframe structure is still bearish, with clear lower highs and price respecting a descending channel. The recent push lower confirms that sellers are still in control, and what we’re seeing now is more of a pullback than a shift in direction. From a positioning standpoint, COT data supports this view. We still have strong short exposure from non-commercials, which tells me the broader market is leaning bearish, but not yet at an extreme where I’d expect a reversal. Retail sentiment is slightly tilted to the short side, but not enough to invalidate the move. If anything, it suggests we could still see continuation before any meaningful squeeze. Seasonality doesn’t provide a strong bullish argument either, so overall there’s no real conflict with the downside bias. At this point, I’m not interested in chasing price. The only scenario I’m focused on is a pullback into key resistance areas, followed by confirmation on lower timeframes. If price pushes into the 1.3400–1.3450 zone and shows weakness, that’s where I’ll look for entries targeting the previous lows and potentially deeper continuation. If the market doesn’t offer that setup, I’m staying out. For me, this is not about predicting the move. It’s about letting price come into areas of interest and executing with confirmation.